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Cost of Study and Living in Iceland

Iceland is an economical study destination and has lot to offer. Read the post to know about the cost of study & living in Iceland-accommodation, tuition fees, transportation, health Insurance, work permit, and more..

Tuition Fees

Tuition fees for higher education institutions in Iceland vary depending upon the course of study, and ownership of institution- state or private. The state owned higher education institutions in Iceland do not charge tuition fees, while the private higher education institutions do charge tuition and registration fees. The students at the state owned higher education institutions are required to pay a registration fee that vary depending upon the institution. The registration fee is non-refundable. Generally, the registration fee is between 100 EUR and 250 EUR.

The EU pupils have to pay less tuition fee as compared to the non-EU pupils. To know about the fee, contact the concerned higher education institution.

Living Expenses

The living expense for a single student in Iceland is ISK 140,600 to ISK 163,635 per month. This may vary depending upon the lifestyle who wish to have. To know the breakdown of the living costs in Iceland, click here.

Rent per month-

You can expect to pay between 96,449 ISK and 203,827 ISK per month depending upon the location- city centre or outside city, and number of bedrooms- one or three.

Health Insurance

For European (EU)/EEA Students

The EU pupils must get a European Health Insurance Card (EHIC) along with them as it indicates that you are allowed to health insurance at your home country. This card enables the students to take benefits during their stay in Iceland. During the doctor visit in the country, the EU/EEA countries candidates must carry along the EHIC card, ID number (Kennitala) and a vlaid passport. By carrying along these documents, the EU/EEA country candidates are charged the same amount as the individual insured in Iceland.

To know more about the Icelandic health insurance mechanism, click here.

For Nordic Country Students

Students from Nordic countries if have insurance in another Nordic country are entitled to receive the benefits of insurance in Iceland.

For Non-EU/EEA Country Students

Pupils from non-EU/EEA countries must have a health insurance from an insurance company in their country that is permitted to function in Iceland, or they can also buy medical insurance from an Icelandic insurance company that covers a minimum of 2,000,000 ISK valid for the first 6 months of their stay. The cost of insurance is about 15,000 ISK. Some of the Icelandic insurance companies from where the students can purchase the insurance are as follows:

Icelandic Social Security

The Icelandic Social Security system is for individuals who live in Iceland. If the new residents have lived in the country for 6 months, in that case, they are entitled to get the Icelandic social health care. The qualifying duration commences from the date of registration in the National registry (pjoeskra) and after the qualifying duration, i.e. 6 months have been passed, the individuals get the Icelandic social health care and are not required to buy a medical insurance.

Medical Examination

Candidates coming from South and Central America, along with non-EU/EEA country citizens, Africa, Mexico and Asia who need residence permit must go for a medical examination. If the candidate possesses a valid medical certificate from the home country or abroad that has been issued within 3 months, in that case, the candidate need not go for medical tests.

Candidates coming from the New Zealand, EEA (except Bulgaria and Romania), Canada, Australia, the USA and Switzerland are not required to submit a medical certificate.

Rent a room: Students are required to pay a security deposit, and may also require to sign a contract with the landlord. You can search for flat through the internet or newspaper. Students can share the room, and facilities like kitchen, bathroom, etc. are available.

On-campus accommodation: There are standard rooms with all the indispensable facilities.

Accommodation Costs-

For a single room: Students can expect to pay about 70,000 ISK and above per month.

Housing certificate: Pupils coming from non-EEA must apply for a resident permit and must submit a housing certificate within a fortnight of arrival in Iceland. The housing certificate must be signed by the owner of the house and witnessed by 2 adults.

Transportation

The public transport in Iceland is limited.

Get Around by Bus

Travelling by bus in Iceland is easy and economical. You must pay the fare to the bus driver. Discount cards or student bus cards can also be used to get the benefits.

The bus services in different regions of Iceland are:

Straeto bsoperates bus services in Reykjavik

Straetisvagnar Akureyrar in the northern area of Akureyri

Driving in Iceland

The legal age of driving in Iceland is 17. To know about the driving license and other related things, click here.

Work Permit

Students must possess a valid work permit in order to work in Iceland. The EU/EEA nationals do not need a special work permit. The non-EU/EEA nationals are required to get a work permit for Iceland before arriving the country.